Have you ever imagined having a smoother entry point to Web3? Phala Network is your perfect solution. The project uses AI to simplify blockchain interactions, making it easier for everyday users to join the Web3 revolution. It is a translator between AI and blockchain.
Do you need to know all about Phala Network? Read on to discover its functionalities, performance, utility, future price prediction, exchange details, the process of investing, and credibility.
Let us get started:
What is Phala Network (PHA)?
Phala Network has a multi-proof system, the core technology that addresses the “AI execution problem”. This will ensure secure and verifiable computations involving AI on a blockchain. The technology builds AI agents that are secure from tampering. This is essential for trust and reliability in Web3 applications.
The AI-agent contract within the Phala Network facilitates a seamless connection between AI agents and smart contracts on the blockchain. This helps with the powerful functionalities of Web3 development.
Phala Network is powered by the TEE network, which guarantees secure computations while keeping your data confidential. Phala products include inDEX, SubBridge, Phat Contract, and PhalaWorld.
Ticker Name | PHA |
Market Cap | $117,945,086 |
24-hour Trading Volume | $49,126,627 |
Total Supply | 1,000,000,000 |
Max Supply | 1,000,000,000 |
Chains | Ethereum Ecosystem, Polkadot Ecosystem, Sora Ecosystem |
Key Factors of Phala Network (PHA)
Check out some of the key factors that could set the Phala network apart from the rest:
AI Agent Contract: Web3 developers could build decentralized AI applications with the contract. They could innovate without the limitations of centralization.
Redpill: The major use of Redphil is to increase network usage and computation power, which could be beneficial for the Phala network ecosystem.
Agent Wars: You can monetize from the fun of playing games. Social presence can be beneficial for you. Agent Wars allows you to not just play, but also create and train your own AI agents.
Token for Phala Network(PHA):
PHA is the native utility token of the ecosystem.
- Trusted: Users can leverage $PHA tokens to access these secure computing resources for their AI tasks. They have introduced the “Phat Contracts” that enable users to easily deploy their AI functionalities on the network.
- Secure: The Phala network implies guaranteed security and ensures the integrity of the network. Gatekeepers have to golf a certain amount of PHA tokens as a stake. This stake acts as a form of collateral.
- Governance: Holding and staking a certain amount of tokens will help you join the Phala DAO to participate in community governance.
Future Price Prediction of Phala Network (PHA)
At the time of writing this, the 24-hour trading volume of PHA is $48,878,55 for the last 24 hours. This is an increase of 286.90% from the previous day.
The surge indicates the rise in the market activity of Phala Network. After analyzing its performance and technical indicators, we have made a seven-year price prediction for the Phala network.
Check out the future price forecast of PHA until 2030:
Year | Minimum Price Prediction | Average Price Prediction | Maximum Price Prediction |
---|---|---|---|
2024 | $0.21 | $0.26 | $0.32 |
2025 | $0.075 | $0.094 | $0.11 |
2026 | $0.079 | $0.098 | $0.11 |
2027 | $0.081 | $0.1 | $0.12 |
2028 | $0.086 | $0.1 | $0.12 |
2029 | $0.089 | $0.11 | $0.13 |
2030 | $0.093 | $0.11 | $0.14 |
Where can you buy Phala Network (PHA)?
PHA tokens are live on centralized crypto exchanges. You can easily buy and sell the most popular exchange option DigiFinex. It has a trading volume of $1,187,522 with the most active trading pair PHA/USDT for the last 24 hours. Other popular options for trading Phala Network include MEXC, Binance, OKX, CoinUp.io, and BYDFi.
How can you buy Phala Network (PHA)?
If you have decided on the investment budget, you can proceed with the buying of the Phala Network. Check for the step-by-step process below:
Step 1: The first and major decision is to choose the Exchange. After choosing the exchange, you can create the account either using the website or application.
Step 2: Once the account is created, you need to fund the account. There are options like credit cards, debit cards, bank transfers, P2P trading, and Third-party payment.
Step 3: You can now proceed to buy Phala Network. This is available on the “Buy and Sell” section of the exchange. Navigate to the buy section and choose PHA from the options available.
Step 4: Now, the final step is to look for storage. You can store it in your account or save it in your crypto wallet. It is possible to trade it for other crypto for passive income.
Make sure that you always rely on the official website of the exchange. Never navigate to any suspicious sites as it could land you in trouble.
Is Phala Network (PHA) a credible investment option?
Phala network enables privacy protection by DeFi. The technology ensures secure collaboration on sensitive data. The computation of the network paves the way for light-node bridges allowing faster and more efficient transfer of data and assets across the blockchains. The project seems to be a credible investment option for both beginners and professional traders.
You are advised to do your research about any crypto project before investing. This could help you understand more about the future of the project and future returns.
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